tag:blogger.com,1999:blog-71431659211872002412018-09-16T20:05:57.233-07:00Dee Does DCReal EstateXander Wilsonnoreply@blogger.comBlogger100125tag:blogger.com,1999:blog-7143165921187200241.post-53593078162179813432013-11-05T06:46:00.000-08:002013-11-29T00:14:58.692-08:00Consultative Real Estate Prospecting and Sales Conversation Skills<div id="article-content"><br/><br/><strong>What Are Sales Skills, Anyway?</strong><br/><br/>I've been eating, sleeping, and breathing "sales training" for so long now, that the language of influence has become intertwined into my speech patterns. I've almost unwittingly become an expert at selling to my kids, partner, and friends in addition to my prospects. Surprisingly, as often as I use these techniques, no one seems to catch on, and it probably makes me a more agreeable person to be around.<br/><br/>Why?<br/><br/>Because when selling, I do more listening than talking. I ask interesting questions that others enjoy answering. I tell stories that relate to what they've been talking about. I don't go on and on about myself, my product, or reasons they should agree with me.<br/><br/><strong>How Does that Work in Real Estate Prospecting?</strong><br/><br/>This type of selling is often called consultative sales, or my own version, called Openhanded Selling. In real estate prospecting, it means you'll use your influence to affect someone's decision-making process. Not the decision itself-just the process of making a decision. If that sounds daunting, rest assured that it's surprisingly easy to do once you recognize the language patterns needed to direct a conversation. It's also subtle, supportive, and powerfully effective.<br/><br/>Many people are attracted to consultative sales because they think of it as a "soft sell" approach where they don't have to ask someone to buy. But nothing could be farther from the truth! Done correctly, this method is very specific about what you want people to do-you want them to hire you as their real estate agent.<br/><br/>In consultative sales-unlike traditional benefits-driven selling-you don't promote benefits for the entire first half of your conversation. Instead, you'll only present benefits after you've asked interesting questions that your prospect has enjoyed answering-questions about them and their situation that lead them through a decision funnel. You listen thoroughly, and use your knowledge of real estate business to ask further, even more perceptive questions that help them make decisions.<br/><br/>You don't try to force a decision down their throats. You take your time. Work around to the topic by "priming the pump."<br/><br/><strong>How Does that Compare to Traditional Selling?</strong><br/><br/>Traditional real estate salespeople tend to do one of two things:<br/><ol><br/> <li>They ask a few "needs analysis" questions, get one or two answers, then launch as quickly as possible into how they will fill those needs. Then they talk and talk.</li><br/> <li>Or they get lost in the conversation. They start off one direction (often casual, chatty), and don't know how to turn it into a sales conversation. That's when they begin to substitute "education" for selling, spending time explaining how buying or selling works and why they're a good choice, rather than finding out if and why the person might be interested or not.</li><br/></ol><br/>If you know what I'm talking about, then you're probably saying "OK, what can I do about it?"<br/><br/>I'll tell you.<br/><br/><strong>Frame Control</strong><br/><br/>Understand how to begin a sales conversation and maintain control of it consultatively. The frame of the interaction is yours to control.<br/><br/>If you start the conversation one way, that's the frame you've created. Every question you ask controls the frame of the conversation. Don't ask questions that don't move the conversation the direction you want it to go.<br/><br/>If you find the conversation going the wrong way, then recognize that there are certain questions you can ask that naturally shift the frame. For instance, "What would happen if...?"<br/><br/><strong>How to Talk to Sellers about How to Do a Short Sale</strong><br/><br/>Here's an example:<br/><blockquote>Suppose I'm talking to a teacher about being laid off and not being able to find a new job. I think this teacher might have to do a short sale of her home. She doesn't want to think about short selling her home, does she? Who does? So, rather than asking her directly about whether or not she plans to sell her house, I want to be more subtle. I can move the conversation in the right direction by saying something like, "What would happen if you found a new job that paid a lot less...would you take it?" And away we would go, talking about finances. That would eventually give me an opportunity to talk about how I helped another person in her situation get a fresh start-and how that person is better off now because he took advantage of the easy climate for getting short sales approved.</blockquote><br/>The framework for a consultative sales conversation mirrors the framework of a person's decision-making process. In other words, if you want to sell without seeming like you're selling, you have to master the steps of the decision-making framework, as well as a handful of influence techniques for moving someone through that framework-naturally.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-20097568047624187972013-11-05T06:45:00.001-08:002013-11-29T00:14:58.643-08:00How a Real Estate Marketing Consultant Can Get Your Listings Sold Fast
in Today's Market<div id="article-content"><br/><br/>How a Real Estate Marketing Consultant Can Turn Your Real Estate Business Around Overnight<br/><br/>A real estate marketing consultant is one who can assist you with presenting your property in the best way. It can be a stiff market out there sometimes so having an edge over the competition is important. You don't want your listing to sit there any longer than it has to. If you need to sell it in a hurry then you need more than just luck on your side. With real estate marketing consulting, it isn't just the best homes and businesses that are being sold. Instead it is those that get noticed by people looking for such property to purchase.<br/><br/>You will notice this approach isn't the standard one size fits all. Instead the consulting will involve your personal needed being looked at. All of the elements of the property will also be covered. Then key points will be made from what you have to offer. All of the information will be accurate. However, it will also be provided in a format that people will find to be very appealing.<br/><br/>There is no shortage of individuals out there looking for property in any given location. The fact that so much of it is buried though means they won't see it. With effective real estate marketing consulting though you can learn the right forms of marketing to use. That is what will get your listing noticed by more people and thus result in it selling faster than you ever imagined.<br/><br/><b>What Should You Look For?</b><br/><br/>You need to do your homework though before you hire a real estate marketing consultant. You want to make sure you are getting someone that knows what they are doing.<br/><br/>What I usually do is provide a free consultation with exceptional information that the realtor or broker can use right away that gets results. Others will offer you specific forms of marketing but nothing beyond that. This will likely be less expensive but you have no guarantee that you will get results.<br/><br/>There are many variables to consider so don't rush into it. Still, real estate marketing consulting does seem to be very effective. The key is to be upfront about what you are looking for. You also need to search for the right person to work with in order to make it all come together with an outcome you are happy with.<br/><br/>It the current market condition you need a competitive advantage to get your listings to stand out, get sold fast and the ability to attract more buyers that you can continue to market to for free.<br/><br/>To turn current market conditions to your advantage read the following below for a complete real estate business turn around.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-77329072639454070512013-11-05T06:45:00.000-08:002013-11-29T00:14:58.741-08:00Benefits of a Real Estate Investments Consultant Business<div id="article-content"><br/><br/>Around the world, many businesses are suffering with financial crisis. In these circumstances, what are the best investment plans? Investing in real estate is a big profitable investment strategy. In this business your returns will be extent. Even tough in these tough times, it is an ideal time to invest your money foreclosure properties like purchase, sell or for residential purpose depends upon the needs of the investor. It is the better time to acquire a well established home for reasonable deals. Purchasing home, it is the biggest financial investments in every ones life. Homes in comfortable areas will gives you attractable returns on your investments.<br/><br/>Every bank will take possession of their property, which are default on monthly installment payments to the bank. These homes are sold by bank through a foreclosure auction. If any home owner tries to sell his property, there are Foreclosure investment opportunities and short sale foreclosure opportunities are available before foreclosure is announced.<br/><br/>Now a days there are lots of housing organization are having their own web sites contains valuable information to provide customer services. You can obtain the auction information available on their web sites. If you do not have much knowledge about internet, it is better to consult a realty investment consultant for more information. And some information is also available in book and guides. You can obtain this information either Internet or a realty agent. You will get maximized returns on these foreclosures in few years form the time your investment is made. You will get a real value on the money spent or the money investment made in foreclosure deals.<br/><br/>Before investing in real investing in real estate business there are lots of points to observe. The present market value of the foreclosure which are interested to invest for and acquiring the correct value is necessary for your investment. You need a thorough knowledge regarding this open market. All the returns in based on the price it will receive. Every state in country is having laws regarding what you can and cannot do in foreclosure homes. If you are not following these laws, there lot of points like life Mortgages or Trust deeds, federal tax liens, lease lands wrong property information and many more will hurt investors. I request you to a proper knowledge of this realty business are essential.<br/><br/>Lastly, a house is built by two hands, but a home is built by two hearts. When you are trying to invest in realty, it is better to consult a real-estate consultant.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-32174130778246627022013-11-05T06:44:00.002-08:002013-11-29T00:14:58.657-08:00Why Is It Beneficial To Work With A Real Estate Consultant<div id="article-content"><br/><br/>It may look simple to invest in real estate. There are numerous professionals to hire for instance a real estate broker, home-inspector, as well as lawyers. You'll find online classes and tons of info on the web. That however will not compare to a personalized plan which a consultant will give you.<br/><br/>A real estate consultant will have experience in every aspects of purchasing, selling and investing and will be able to assists put everything together. There are plenty of things to overlook. All of the 3 specialists services talked about can help with their own area of expertise. The real estate consultant coordinates everything involved in a real estate investment to make sure it's going properly. If the offer isn't uncomplicated a consultant can help.<br/><br/>Let's say you've got a house that needs an entire rehab or would repositioned be the way to go. Are you experienced in pulling permits? Do you have exceptional connections with nearby building contractors? This is an example of things the consultant will be able to help with.<br/><br/>Prior to you choose a Real Estate Consultant<br/><br/>When considering a Real Estate Consultant, look for an experienced professional, whom provides good references, and who truly comprehends your own goals. Look at an individual whom has worked on jobs comparable to your own and verify to be certain they ended up successful.<br/><br/>Think location as well. Rules in each town will differ. If your consultant has worked with inspectors previously that will be a great help for a renovation project.<br/><br/>Go with your gut and trust your impulse. You and the consultant will certainly have a close relationship during the process. Therefore it's critical that you can perform with each other as well as will be on the same page. A mutual respect will be important therefore take into account during the interview process. Look for a chance to obtain a no charge consultation. This is your chance to discover if they know what they are talking about. Don't anticipate getting too much with this free consultation but you will gather if they truly understand the assistance you actually need.<br/><br/>What are you going to fork out for this service.<br/><br/>We haven't really mentioned is the particulars of exactly what they can do. There are many parts one could help with. A customized program which only offers needed services is one way to go. Some businesses have particular plans and packages, think bundled services. The question is also challenging to answer since truly no process is really alike. Good news is the cost will certainly be much less compared to other professional services.<br/><br/>If you choose the proper person; it's definitely worth it. Keeping an investor from just a single mistake will pay for itself. You might realize a higher Return on your investment with a successful repositioning. Obtaining permits swiftly without a holdup will get a construction task going quick allowing a buyer to sell or rent faster producing a greater profit.<br/><br/>You'll likely end up being very happy if you choose the right real estate consultant for your investment property.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-52050171731695890502013-11-05T06:44:00.001-08:002013-11-29T00:14:58.686-08:00Choosing a Real Estate Agency<div id="article-content"><br/><br/>If you are a new investor in the real estate market then you should definitely seek out the help of an investment advisor to help you out in making the right decisions. If you are looking for a investment advisor, property investment consultancy, property management services, property renting buying selling real estate appraisal, then choosing an appropriate and reliable agency is the first step towards making sure that you are going in the right direction. Real estate is a great sector to invest your money and letting it grow and become a big fortune for you in the future, but it is also risky. One wrong decision and all your money is gone. You cannot afford to take any rash decisions when it comes to investing in properties and this is why you need a reliable agency or a property investment consultant to give you his expert advice in making the right decisions.<br/><br/>While choosing a reliable agency you have to be sure about the company's credibility like is it certified or not or whether it is recognized by the government or not. Especially if you are looking for property appraisal then you must have some proof that the agency or the consultant you are referring to is legitimate so that your loan lender can be assured that he is entering into a secure deal.<br/><br/>Nowadays, agencies take care of all property related functions. In fact property management is one of the highly sought after services of a real estate agency. Property management includes giving advice on renting buying &amp; selling in commercial projects and residential projects. From choosing the contractor architect to location site to choosing construction workers and equipments and raw materials, to repair and maintenance and finally interior designing, everything is undertaken by the brokers appointed by the agency you are choosing. You will be tension free. Moreover the chances of you making a serious blunder are also less. Especially if you are new in real estate investments then you definitely need the expert advice and guidance of experienced personnel like a property consultancy to help you give a kick start to your real estate career.<br/><br/>You should avail services of reliable property investment consultants in order to get good returns on your investment. The agency you chose should specialize in both consultancy and property management. If you want you can also hire the services of their property advisors or real estate brokers. A lot of people are investing in properties as it is currently experiencing a boom. If you are interested in investing in property too then you must get in touch with reliable investment consultant.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-82240330497981588932013-11-05T06:44:00.000-08:002013-11-29T00:14:58.751-08:00Search a Suitable Property With Real Estate Consultants<div id="article-content"><br/><br/>Searching a residential real estate in Delhi is not an easy task. As the rates of residential property in Delhi are rising with the passing of each day, it has become very difficult to find a suitable place in Delhi. People are putting the best of their efforts to find a residential place in the capital of India as it is likely to believe that the rates of Delhi's real estate is soon going to face a very good time. As the capital city is the social, cultural and political hub, it attracts a large number of people from all across India like business owners and job seekers.<br/><br/>Various contractors and builders purchase plots and lands so as to construct buildings, apartments and flats. These properties are then sold at a very high rate. Also, people prefer to purchase real estate in Delhi because of the fact that there are various facilities that come along with it. In posh areas like New Friends Colony, Civil Lines and Greater Kailash, problems of water and electricity are not faced much.<br/><br/>There are online real estate consultants as well that can be very useful in providing necessary information like rates and infrastructural details about a particular place. Also, these online property consultants answer to the queries of potential buyers so that the latter could not face problems while purchasing real estate in Delhi. Victoria Gardens, Parsvnath Paramount and Parsvnath Tropicana are the best among the upcoming residential projects in Delhi. The Parsvnath Tropicana aims to provide niche in the area near Civil Lines. This project is spread over a vast land stretch of about seventeen acres and the best part is that the importance of natural surroundings are kept in mind and around seventy percent of the land proposed for residential property is reserved for making parks and lawns.<br/><br/>Similarly, the project of Victoria Gardens has been designed to make residential real estate on the Mall Road near North Campus. So, by taking the details from online real estate consultants, the purchasers can benefit tremendously. Information about leasing or rent is also provided by the online consultants. Also, according to one's budget, details about ordinary apartments, villas, penthouses and luxury apartments are provided as well. Therefore, in today's times, buying and selling a real estate property has become an easy and less time consuming task as compared to older times when we had to be dependent on the property dealers to decide the fate of our property.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-55524382979039173502013-11-05T06:43:00.001-08:002013-11-29T00:14:58.696-08:00Selling Your Property Privately - Hire a Real Estate Consultant to Sell
Like a Pro<div id="article-content"><br/><br/><b>Selling Your Property Privately -- Hire a Real Estate Consultant</b><br/><br/>If you are selling your property privately, you do not have to handle the nuances and intricacies of sale alone.<br/><br/>You could retain the services of an expert real estate broker and pay a reasonable fee for being your consultant. You will still do all the activities yourself, but the consultant will be there as a retainer to advise you at every step of the sale.<br/><br/>It should not be difficult to hire one for about $5,000 or say about 20%, of the commissions, that you would normally pay to a real estate brokerage to sell the property. For a high valued property, this could tantamount to savings of tens of thousands of dollars over the traditional way of selling and hiring the services of a Real Estate Broker.<br/><br/>Hiring a consultant to sell a property privately is not a common practice, but just because it is not a common practice, should not be the reason, not to hire one.<br/><br/>With step by step consultation, you will get guidance through the entire process of sale. You will save your self from blunders that could cost you money, complications and even the sale of your home. You will be able to handle the private sale like a "Real Seasoned Pro" and sell your property fast and for the highest price.<br/><br/>Consultation could cover all marketing matters relating to the sale of your property such as Advertising, ad writing, search and selection of right written media and internet, preparation of your property for the highest sale price, how to show your property, What to do and what not to do, offer preparation, mortgage and other financing arrangements, bridge financing, building inspection, negotiations, preparation of offers, sign backs and counter offers, different winning strategies, conditional offers, removing of the conditions, title insurance, property survey and full marketing consultation right to the day of closing.<br/><br/>With the process of selling becoming complex and the consumer more focused on saving money, hiring a Real Estate consultant should be a viable option for the private sellers.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-2914124623841203172013-11-05T06:43:00.000-08:002013-11-29T00:14:58.652-08:00Navigating the Murky Waters of Real Estate Fees<div id="article-content"><br/><br/>Traditional real estate fees can dramatically impact the amount of home equity that a homeowner will net after the sale of their home. Since real estate commissions are averaging between 5-6% and many Real estate brokers are under increasing pressure by homeowners to reduce this percentage even further.<br/><br/>A home seller can either retain the services of a real estate broker to sell their home or they can elect to sell it themselves commonly known by the acronym (FSBO or For Sale By Owner).<br/><br/>If the homeowner decides to employ the services of a broker, the broker will traditionally negotiate a percentage based fee of the net amount that the home ultimately sells for. An example would be when a homeowner sells his home for $200,000 and negotiates a 6% commission with the broker. The Listing Agent will typically receive 3% or $6000 and the Selling Agent will receive the other half of the commission or $6000 upon the successful closing of the transaction. Note, the Broker will pay for his/her marketing expenses out of the commission they receive.<br/><br/>This model is based upon the cold reality that the home may not sell at all. Therefore, there is a greater risk to the broker that all of his/her efforts may be wasted. Conversely, there is also a greater reward to the broker for their success since the broker bears the most risk.<br/><br/>Another model, which represents a viable alternative, is based upon a consultative framework. This framework is a more transparent model in the respect that the consumer knows exactly what services they are receiving and what the specific cost for that service is. Thus, a consumer can make a more informed decision about the specific service needed.<br/><br/>Utilizing the consultative approach, a consumer pays the consultant for the service in much the same way that attorneys and accountants are paid for their professional services.<br/><br/>Real estate consultants will often times bundle individual services into a flat fee arrangement thereby giving the consumer even greater value for a lower cost. For example, a broker acting as a consultant, agrees to sell Mr. &amp; Mrs.Smith's home for a flat fee which includes a list of specific services that they selected from broker's menu of services bundled for a total fee of $2995. The agreement provides that they will pay a certain amount up front and the remainder upon the closing/or termination of the agreement (without a successful sale). If the Smith's selected the individual services individually they would cost more than if they were cost effectively bundled. This arrangement becomes a win-win for the consumer and the consultant.<br/><br/>I have adopted this model since I believe that most consumers want choices. In addition, and most importantly, it gives the consumer the ultimate control over their bottom line by minimizing their real estate fees!<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-217451482446272982013-11-05T06:42:00.001-08:002013-11-29T00:14:58.647-08:00Advantages of Real Estate<div id="article-content"><br/><br/>People are in need of investing their wealth in various ways. One of them is buying and also selling of land and also buildings. This has been a great investment as a person can reap from the same after many years. Though it is quite expensive, people have even liaised with banks to get loans which they later repay. Real estate has quite a lot of benefits to those who invest in their wealth and also the society in general.<br/><br/>Employment<br/>Job opportunities have been created as the whole process of establishing a real estate firm requires various professionals. This is like the constructors who render their services. Through this, they have made a living which is quite helpful. There is also need for surveyors who will demarcate the land. Moreover, even those who supply the building materials are also in the benefiting end as they get to sell their products.<br/><br/>There are brokers and agents who are involved in the selling process. They serve as representatives the real owner of the property. Through them, a person will get to know the services available and even the new prices. Through this kind of a link, they share in the benefits received when a land is sold.<br/><br/>After the process of building the houses is over, there is also need to employ those who will manage the buildings. This can be like maintaining them in good shape and ensuring that there are no intruders. Those who come to rent or buy such buildings will however need people to prove that the property is real and that it is registered and also recognized by the government.<br/><br/>Government involvement<br/>Due to the cash involved in the transactions, the state will need to be check that there is no loss of money to unauthorized sellers. This is also to help verify the documents of making the transfer of ownership an irrevocable one. Through the state registering all the land in a certain country, they prevent illegal acquiring of land.<br/><br/>It is also good to have an authoritative officer in the process of selling buildings. This is because they will check how much money was acquired and thus set the taxes to be paid. This is quite beneficial as a country increases the income in a certain year through the many investors who pay the tax. With the increased investment, it is upon the government to put all measures to help counter fraudsters.<br/><br/>Security in the investment<br/>Many people have embraced this kind of investment due to the assurance of constant income. This has helped a person even on retirement to still enjoy money with only expense being on maintenance. Moreover, the business surpasses even keeping the money in the bank as there is more profit earned.<br/><br/>There is however need to consider the location in which a person wants to invest the real estate project. This is because it can be a big loss when there are no tenants coming to rent the houses. It is thus good to consider the services of a professional real estate consultant before starting a project.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-32885694730650274542013-11-05T06:42:00.000-08:002013-11-29T00:14:58.662-08:00Real Estate: Choose a Realtor You Can TrustToday's volatile real estate market involves complex laws and fluctuating financial conditions. Maybe you've outgrown your first home; maybe you're in the process of turning over your fourth. Whatever your unique set of circumstances, you want to be well-informed every step of the way. Thus, it pays to choose your real estate advisor carefully.<br/><br/>Your realtor should no doubt hold considerable, first-hand property investment experience. The more financial and legal knowledge he or she has, the better equipped to guide you in your home-buying and selling decisions. If you can find a realtor who is also a licensed attorney, hang onto him for life!<br/><br/>Did you know: home equity yields a 10-12% investment rate with every transaction. If you put 10% down on a $300,000 home, you'll be able to sell the same residence for $600,000 in approximately 7.2 years. The more homes you buy, the higher you build your home equity-- and the lower your interest rate drops. That means the more real estate you turn over in your lifetime, the greater your net return. It's called compound growth, and it's a win-win situation.<br/><br/>You'll find that the more homes you sell, the better you become at it. With help from a qualified real estate expert, you can be sure that your investment decisions are rock-solid.<br/><br/><b>What to look for when shopping for a realtor:</b><br/><br/><b>A trust-based partnership.</b> As a personal investor, you should never have to feel pressured. In these uncertain times, long-term, trust-based relationships are incredibly important. The right real estate advisor will operate from an ethical standpoint and keep your long-term goals and best interests in mind. Whether you're a first-time buyer, a new landlord or looking to turn over multiple properties, your real estate consultant should be in it with you for the long haul.<br/><br/><b>An honest opinion.</b> Seek out real estate counsel from an honest, straightforward approach to doing business. It's so tempting to let someone tell you want to hear; but for your own investment knowledge, you deserve the truth! If the market's taking a turn for the worst, would you want to be the last to know? Choose a realtor with a no-nonsense approach who will help you make realistic decisions.<br/><br/><b>Creative financial solutions.</b> Each person's situation is different from the next. Don't let yourself be categorized! Instead, choose a realtor who'll provide one-on-one with a deep understanding of the real estate market and trends to provide expert insights on how timing, pricing and financial issues will affect your purchase. Worried about getting in over your head? The right realtor can create financing solutions that will "make the deal work." Don't settle for anything less!<br/><br/><b>A local resident expert.</b> What better way to get inside information on your potential future neighborhood than from someone who lives nearby? Your local realty expert can provide the inside information you need. Get the scoop on the neighborhood, school system, recreation, economy... all those little things that decide whether this town is someplace where you'd like to live, run a business, operate as a landlord, or raise your children.<br/><br/>There's no time like the present to start thinking about the future. Whether it's for next month, next season or next year, the time is right for doing your real estate research... so you can be sure the realtor you select is the right one for you!jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-89869916851859504192013-11-05T06:39:00.002-08:002013-11-29T00:14:58.761-08:00How to Research Real Estate Property for Liens<div id="article-content"><br/><br/>An important part of buying real estate property is searching for property liens. This is something that many people do not realize that they need to do. They should not always trust the seller's word. Doing a property lien search should be a top priority when you are buying property. You do not want to unknowingly buy a house that has liens. As a buyer, you may be responsible for paying off those unpaid debts. Also, if the land has a lien on it, it can be forced into sale by a lender to pay part of the debt.<br/><br/>For the most part, liens are a matter of public record. To find if there are any liens on a piece of real estate property, you can use three main options.<br/><br/><strong>The Internet</strong><br/>The internet has become a great resource if you are looking for information on a piece of land. Much of the data about property liens are available on government websites. Search your county recorder, clerk or assessor's website for information. All you need is the name of the property owner or the address.<br/><br/><strong>Local Government Offices</strong><br/>If your county does not have the data available online, then visit the county recorder, clerk or assessor's office in person. If you visit the offices is person, you have the staff there to help you find the information you need. The staff may also give you advice on what other information you a need to find out about a piece of property.<br/><br/><strong>Title Company</strong><br/>If you do not have the time to do the research, you can hire a title company. A title company will search through public records and verify the owner of the land. The company will also search for any property liens or back taxes owed on the property.<br/><br/>When researching a piece of property for information, make sure the basic information is correct. It is very easy to misspell the street address or the owner's name. If you do discover liens on a property and have not purchased the property, then ask for advice from a real estate agent or a lawyer who has experience in this area.<br/><br/>Researching a piece of property for liens is a way to protect yourself and your investment. You do not want to be responsible for someone else's debt. Taking time to do all the necessary research on real estate property will save you from a lot of trouble down the road.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-65538473694609187812013-11-05T06:39:00.001-08:002013-11-29T00:14:58.715-08:00Researching Real Estate Investing<div id="article-content"><br/><br/>Author Zora Neale Hurston has defined research as formalized curiosity. She said it is "poking and prying with a purpose." It is also necessary in whatever field you want to be successful in. You need it more in real estate investing (REI) because the capital involved in usually huge. You wouldn't want to go bankrupt just because you did not properly inquire on a few matters.<br/><br/>Books and magazine articles are always helpful whenever you do REI research. A book will be able to discuss matters extensively because it has the luxury of length. Feature articles on big shot real estate investors, meanwhile, will provide you with inspiration. Successful investors are often featured on real estate related magazines.<br/><br/>Then there's the Internet. They say that nowadays, you'll find anything through the web, even love. Cyberspace is also a good source of information on anything about real estate investing. Try typing the keywords "rei wired" on Google and feast on an array of results. You can also key in very specific phrases like "rehab hard money," which means you are looking for hard money financing for a house rehabbing project.<br/><br/>Be careful though as you might get inaccurate information from the Net. Some people who are too opinionated for their own good can also submit articles, which might later confuse you with false information. Be sure that you're getting information only from sites that are credible.<br/><br/>To avoid being duped into faulty ideas on the web, the best way of research in real estate investing is perhaps talking to REI experts. Attend seminars by experts whenever possible. Problem is experts usually have a tight schedule touring the country and even other nations to share their knowledge. You can't expect REI experts to visit your area every so often. If in case they do hold a training seminar in your county, will you be able to afford it? Let's accept the fact that a lot of people would pay thousands just to hear some secrets from successful investors.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-75431411894466675692013-11-05T06:39:00.000-08:002013-11-29T00:14:58.735-08:00Researching Real Estate Before a Buy<div id="article-content"><br/><br/>Before you buy real estate, you should know as much as you can about the property and the previous owners. Since this is a big decision, most people need to know as much as possible about the investment before they make the decision to buy. This means considering things like the overall value of the property. It means knowing the neighborhood well. If you want to know the most you can about any investment, it is often best to turn to the experts who can help you in the area.<br/><br/>How to Gather Information<br/><br/>If you want to find out as much as you can about a piece of real estate before you buy it, turn to local agencies that can provide that information to you. As a buyer, you do not have to pay out of pocket for the services of these providers. Rather, you can simply agree to work with the agent and he or she can help to track down the types of property right for your needs. This professional's job is to help you to find out as much as you can about the properties you plan to buy, too.<br/><br/>What can he or she help you with? What should you know before you actually make the decision to invest? There are countless things to keep in mind including the following:<br/><br/>-What features does the property offer? When were additional features added?<br/><br/>-What did the property sell for when this owner purchased it? This can be important in situations where the sale is recent or when you want to consider the overall increase in value.<br/><br/>-Are there any liens or other loans against the property that may make buying it more difficult? What could hold up the sale of the property?<br/><br/>-Are there any concerns with the property such as water problems, foundation concerns or major system repairs that need to be handled?<br/><br/>-What is the neighborhood like? While you may be able to tell some things from driving through it, it is often best to find an agent who can tell you about the actual neighbors and the street's overall vibe.<br/><br/>Having as much information as possible about the property can help you to make a decision about any property. In real estate, where the value of buying is so important, it is hard to make a decision without knowing all of the facts possible. Most people can learn more by simply taking the time to gather information about the investment including its current condition, its history and its neighborhood. Turn to a professional who knows the area well to help you with this need.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-58072670425918194022013-11-05T06:38:00.002-08:002013-11-29T00:14:58.706-08:00Real Estate Research Managers: Job Profile and Requirements<div id="article-content"><br/><br/>Research managers have now become so important in property market that their views are almost the starting point of any and all types of real estate transactions.<br/><br/><strong>What do they do?</strong> In fact, real estate developers, property managers, property brokers, property advisers, agents, counselors, appraisers, finance and investment professionals, property investment analysts, etc. all depend on the data provided by research managers.<br/><br/>Research managers collect primary and secondary data, views, actual and potential transaction details etc., analyze these data by the use of economic and statistical tools and make formal conclusions which in turn help real estate professionals in making their own decisions about sales, purchase, investment, portfolio adjustment, site selection, price appreciation and depreciation etc.<br/><br/>For example research managers collect relevant primary and secondary data related to sales and leasing of commercial property in a particular market in a given time period. Similarly, they find the approximate number and areas of ready to move commercial property that is expected to be released in the market in next three months. They also meet the potential buyers of commercial property and potential clients interested in taking commercial property on lease to understand their requirement in next few months (for example next three months). After getting all the relevant data, they analyze and interpret the data to make it usable for real estate professionals. Users, in turn, use the research results to understand the market, especially the way market will move in next few months. Based on the research conclusions, real estate professionals also decide their pricing strategy, leasing rates, selling &amp; investment strategies etc.<br/><br/>Overall, research professionals are responsible for market analysis, forecasting, trend analysis, preparing market reports, analysis of user behavior etc. in different markets and segments of real estate.<br/><br/><strong>Working Environment</strong> They are required to work for eight hours per week. However, for entry and junior level research professionals, only a part of their job requires them to remain in office. Otherwise, most of their requirement is outside of their office and have to work beyond eight hours. Research managers work with different types of professionals from across different sectors and specialties.<br/><br/><strong>Employers</strong> Research managers work for developers, international property consultants, property brokers &amp; advisers, large property agents, property venture capital funds, private equity investors, housing finance institutions etc.<br/><br/><strong>Employment Prospect</strong> Since the Indian property market is on growth path and international property developers, consultants, investors, lenders etc. are setting shops in India and since the concept of commercial transaction in the Indian market is growing, there is huge growth prospect for research managers in the Indian property market in the time to come.<br/><br/><strong>Education</strong> Bachelor's or master's degree in real estate, urban planning, architecture, economics, statistics etc. is preferred.<br/><br/><strong>Knowledge, Skills, and Personality Traits</strong><br/>• Ability to understand, interpret and analyze data, providing insights into market trends<br/>• Excellent communication skills<br/>• Advanced Microsoft Excel and PowerPoint skills<br/>• Ability to learn internal and external data delivery systems (PropTools, MLS, etc.)<br/>• Ability to work independently<br/>• Analytical skills<br/>• Knowledge of statistical tool, techniques and software<br/><br/><strong>Compensation</strong> In terms of compensation, research professionals command a good premium in the market.<br/><br/><strong>Tips for entry:</strong> In India, IDS National Institute of Real Estate Management (NIREM), and EduMark Realty Education Services offer short term as well as long term courses in real estate research. However, there are many other institutes that offer courses in related areas such as economics, architecture, planning etc.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-392853744486841592013-11-05T06:38:00.001-08:002013-11-29T00:14:58.681-08:00Having Professional Research and Due Diligence Done Before Real Estate
Investing<div id="article-content"><br/><br/>Having professional research done before real estate investing is probably the most important stage to ensure you are purchasing a profitable property. Yet, many real estate investors underestimate or skip the due diligence process, only to suffer the consequences later down the road. From analyzing the actual property and its neighborhood and speaking to professionals or experts in the area to visiting the neighborhood and making in-person reviews of the property, professional research will help you avoid real estate investment mistakes. Indeed, when it comes to research in real estate investment, scrutinizing every facet of the potential property as well as your own investment goals so you get the highest possible return on investment.<br/><br/><strong>Step 1: An Initial Review of the Property and Neighbourhood</strong><br/><br/>Before you close a real estate deal, you obviously want some information about the property and the neighbourhood. Regardless of whether you are purchasing residential or commercial property, professional research at this stage provides a broad scope image of the potential property. You may have already found some properties of interest, and you want to learn the demographics and economic conditions of the city and neighbourhood. Much of the early due diligence in real estate investment is conducted through phone calls and online research and it will help you quickly weed out properties that don't fit your needs.<br/><br/><strong>Step 2: Get Acquainted with Local Professionals/Experts</strong><br/><br/>The second stage of due diligence that should be done before investing involves getting a more personal look at the neighbourhood and sub-markets where the property is located. Again, much of this research can be conducted from the home or office. This stage of due diligence provides an excellent opportunity to learn more details about the sub-markets and individuals where the property is located. This stage of due diligence should involve a detailed list of questions that will help give you a clearer image of your investment property.<br/><br/>Some questions you might want to ask include:<br/><ul><br/> <li>Does the area show signs of economic improvement?</li><br/> <li>Are the utilities and service you require already set up?</li><br/> <li>Does the neighbourhood offer the appropriate amenities (grocery shopping, schools, restaurants etc)?</li><br/> <li>What is the typical rent for the area?</li><br/> <li>Are there many vacant properties?</li><br/></ul><br/>The second step of professional research and due diligence should provide more details of the property and location further allowing you to narrow your list of potential investment properties.<br/><br/><strong>Step 3: Visit and Consultation</strong><br/><br/>If you or a research professional have conducted the first 2 stages of due diligence and you still find the property favourable, it's time to tour the property and the surrounding location. This stage allows you to validate the research you or your experts have already done. Stage 3 of due diligence provides a more personal experience not just of the property, but of the sub-markets and surrounding amenities to ensure that you meet your investment needs. Speak personally to professionals and experts who live and work in the area for even more information about your investment.<br/><br/><strong>Step 4: Validate your Investment</strong><br/><br/>The final step of having professional research and due diligence done before investing in real estate involves careful analysis of the property and grounds. You want to know what kinds of deferred maintenance will need to be done, while also validating the financial aspects of the investment. This includes evaluating potential cash flow or rental income, the costs of maintenance, purchase price with regards to market value, the taxes involved, verifying the age and condition of the property (e.g. the age/condition of the roof, electrical, plumbing, and other cosmetic factors), and other legal details.<br/><br/>While this article provides only a brief overview the professional research and due diligence that should be done before real estate investment, it hopefully elucidates the necessity for due diligence as well as the exhaustive nature of the process. For many novice real estate investors, hiring a real estate expert to conduct this research and due diligence can help to ensure that nothing is overlooked so your investment is a profitable one.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-69157419280350300412013-11-05T06:38:00.000-08:002013-11-29T00:14:58.720-08:00Real Estate Research By Talking<div id="article-content"><br/><br/>Real estate research might start with a look at the U.S. Census information about a town. It can include inspections of specific properties, too. There are many statical tools and information that can help, but don't forget one of the easiest and most useful research tools: talking. Let me explain with a true story.<br/><br/>My wife and I were on vacation, and stopped in Farmington, New Mexico for a few days. We were about to buy a house for a winter project. The plan was to fix it up and sell it in the spring for a profit.<br/><br/>Just prior to making an offer, we took a last walk-through. As the owner showed me around, my wife started to talk to the woman who was renting the home. She told Ana that half of the outlets in the home didn't work, as well as other useful information.<br/><br/>This got me thinking, and I went down to the basement for a second look at the wiring. Not only did the house likely need all new wiring, but I found a garden hose attached to a natural gas line. The owner shrugged and said, "You can just cut that off."<br/><br/>To this day, I don't know what that was about, but for these and other reasons, we didn't buy the house. It helps to talk to anyone you can when looking at a house or other real estate investment. Neighbors and renters are especially helpful.<br/><br/><b>Real Estate Research - Choosing a City</b><br/><br/>Talking to a lot of people isn't just useful for information on individual properties. It is also a great way to research a town. I once called the Chamber of Commerce of Deming, New Mexico. The chairman's casually commented that the city was using up the water faster than the aquifer was being replenished. They had no back-up plan. This was enough for us to cross Deming off our list.<br/><br/>If you want to know about a town, use the phone first. Find any excuse to call anyone from a real estate agent to a random resident. Ask about crime, whether the local government welcomes new businesses, what the climate is like. Have houses been sitting for sale for a long time, or do they go fast? What are the good and bad things about the town?<br/><br/>Before we moved to Tucson, Arizona, part of our real estate research was to call people in potential towns to see if they owned a snow shovel. If so, we crossed the town off the list. Two places can both get 45 inches of snow per year, but in some it stays all winter, and in others it melts before noon. The snow shovel question told us the truth behind the statistics.<br/><br/>Once you're in a town, a good local bar can be a great place to do your research. After a beer, patrons will tell you what big employers are about to move in or out of the town, how fast homes are selling, whether there are gangs, and much more. Talking to people is a good way to do real estate research, but verify what you hear. People do sometimes exaggerate.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-59326369780791385032013-11-05T06:37:00.002-08:002013-11-29T00:14:58.711-08:00Keyword Research - Its Importance to Your Real Estate Business<div id="article-content"><br/><br/>For the success of the SEO campaign of your real estate business, the first and the most important factor to consider is keyword research. You should really be careful with this as your keyword choices will matched with those search terms used by people seeking for properties in the area where you are focusing.<br/><br/>Prospective buyers would easily find your real estate website when you know exactly what your target audience is looking for. Your target audience should be those people who are really interested and ready to buy properties. These kinds of home buyers really know what they want and they are looking for right website to whom they can purchase properties to.<br/><br/>In choosing keywords you can opt for long phrases or keywords as these are much easier to get ranked and there is a great possibility that your every visitor will be converted to clients.<br/><br/>For you to able to determine the most effective keywords or phrases to use in your website, you have to base it on the search popularity if it is high and competition should be low. You should picked keywords or phrases with the most number of times searched and that can be found in the fewest number of pages of a particular search engine. What is important here is the quality of traffic you get and not the quantity.<br/><br/>A good keyword research will help your prospects get into your website and be able to read the valuable information you have. For your website to get high position in search engines you need to find keywords with enough worthwhile searches.<br/><br/>Keyword research is a vital part of real estate marketing. Without it, the search engine optimization you are implementing in your site is useless. It is best to know your target audience first for you to be successful.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-36769291386434206362013-11-05T06:37:00.001-08:002013-11-29T00:14:58.676-08:00How To Find Your Real Estate Bargain To Add To Your Investment Property
Portfolio<div id="article-content"><br/><br/>Finding a real estate bargain that suits your purposes usually takes some time and investors need to learn the art of patience so that they do not jump in and buy when there is a better buy just a few weeks away. It takes some research, being constantly on the lookout and being very proactive in the real estate market in order to find those real deals. When building your investment property portfolio it is not something that should be rushed into. It can take quite a few months to find the right property.<br/><br/>The rewards, though, are well worth the wait.<br/><br/>Here are some some tips to help you in searching out a bargain, although do keep in mind that not all tips will suit your particular criteria:<br/><ul><br/> <li>know your target area, walk it, drive it and visit it several times a week so that you know exactly what is going on</li><br/> <li>know the prices in your target area</li><br/> <li>know the rents in your target area</li><br/> <li>keep an eye out for properties that have been on the market for over 3 months</li><br/> <li>look for renovation potential</li><br/> <li>can a property be subdivided to get two investments from one?</li><br/> <li>search through the deceased estates, public trustee and mortgagee sales websites</li><br/> <li>ask around in your target area to see if the neighbors know anyone who might be selling sooner rather than later - you might be able to do a private purchase and save commission</li><br/></ul><br/><strong>Personal Circumstances Can Force Sales </strong><br/><br/>These are sales that can be difficult to negotiate as the emotions run high, but if it is a mortgagee sale for example, then you are dealing with agents or even directly with the bank.<br/><br/>Often times people who have been left a property in an estate do not want to keep owning the property and they are not able to renovate it to make it more saleable (either because they live so far away, or they do not have the funds) so therefore the property can be bought at a very good price. Estate properties have often been let go a little as the owners have got on in years and have not been able to maintain the property as they would have years ago. The renovation potential is often very high with these properties. Sometimes even just a quick, economical face lift can upgrade the property dramatically.<br/><br/>Sometimes it is a long protracted illness that forces a home owner to sell as they can no longer pay their mortgage or they need funds for medical bills. Then too, are the broken relationships which do bring a number of properties to the market each year.<br/><br/>The point is, if you know your target area exceptionally well you are able to make quick and informed decisions. As I said, it may take a while to find the right property, but it is better to wait for the right property rather than just buy the first 'good' property that comes along as these properties often do not have the financial gain that the 'ideal' property has to offer.<br/><br/><strong>Check out the seller before making your offer: </strong><br/><ul><br/> <li>do they need a quick settlement</li><br/> <li>do they need a long settlement</li><br/> <li>are they emotionally attached to the property</li><br/> <li>do they want to stay on as tenants</li><br/></ul><br/>These answers can influence how you write your contact and can often put your contract ahead of others if the clauses suit their requirements.<br/><br/>Take the time and to find your real estate bargain to ad to your investment property portfolio and you will not be sorry.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-32954622172545971462013-11-05T06:37:00.000-08:002013-11-29T00:14:58.667-08:00Behind the Scenes Real Estate Investing - Preparing a Property
Information File<div id="article-content"><br/><br/>I am going to give you a sneak peek behind the curtain of an up and running real estate investing business. In our real estate investing business, we compile a Seller Property Information File that includes all the information we need to know to put together a deal. Here is a quick run down of what we include in that Seller Property Information File.<br/><br/>First, we have a Property Information Sheet that we use when we initially talk to a seller on the telephone. On this sheet, we write down all the info about the property, the seller and their situation.<br/><br/>Next, since I primarily buy and hold property as long-term rentals, I do my Net Operating Income analysis on the property using the Net Operating Income Worksheet. This worksheet allows me to run through all the income and expenses of the property to find out how much debt the property can actually support. This tells me what I can afford to pay for the property to have break-even or better cash flow.<br/><br/>Next is the Public Record Information Sheet that we print out from public records. It tells us information about the property, including the last time it sold, and any liens on it. It can also tell us who the owner of record is for the property (which occasionally is not who called you).<br/><br/>We also do a quick search for comparable sales to find out what we think we could sell the property for. If you have access to your local MLS or an extremely helpful real estate agent or broker, you can get this information from them. Otherwise, you may need to compile this data from public records or free websites that help you determine property values.<br/><br/>If there are any recent MLS listing sheets including Active, Expired, Previous Sales and Listing History sheets, I like to include those in the file as well. That way if I need to go back and look at what happened in the past through the MLS, I will have a much better understanding.<br/><br/>Next, I print a map and directions from Google Maps. Obviously, I don't want to miss my appointment with the seller because I got lost along the way.<br/><br/>I usually also run my full Offer Generator Analysis on the property and include a print out of it to give me an idea of the various offers I can make on the property. I can adjust them when I get out there if I find the house needs more or less repairs or is in better or worse condition for sale than I anticipated.<br/><br/>You should have a car file full of all the standard documents that you need. I like to include my Credibility Packet and, of course, a blank Contract To Buy.<br/><br/>My assistant will usually help me get the entire Seller Property Information File together before I go out to meet with the seller.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com2tag:blogger.com,1999:blog-7143165921187200241.post-56064628362206576302013-11-05T06:36:00.000-08:002013-11-29T00:14:58.701-08:00Property Investment Is Real Estate!<div id="article-content"><br/><br/>What is the point of spending more money than you would on any other product in your entire life, if you haven't researched and understood the underlying fundamentals of the place you will be living or investing in?<br/><br/>The purpose of this article is to provide some clarity on the subject of property investment in relation to the Australian residential real estate market.<br/><br/>In Australia there are more than 9million private dwellings to house a population of almost 23million according to the latest Australian Bureau of Statistics Census in 2011. This means, there is approximately 2.6 people living per household.<br/><br/>If you were buying a property in this scenario would it be a 1 bedroom or a 3 bedroom?<br/><br/>Property investment research is a practical and logical field in which a myriad of interconnected factors are at work to create changes in property markets.<br/><br/>What would happen next if the population had a median weekly household income $1,234?<br/><br/>Shopping = $250<br/><br/>Travel = $100<br/><br/>Entertainment = $100<br/><br/>Miscellaneous = $300<br/><br/>This leaves roughly $450 a week for the property, which is the median monthly mortgage repayments as of 2011 in Australia.<br/><br/>How much can this actually enable the average Australian to buy?<br/><br/>Being generous and based on borrowing calculators, estimates are less than $200,000, which means a hefty deposit and plenty of saving. This shows you need to know and understand the market you are entering, or else you may be building or buying a product that no one can actually afford or want. This severely dampens future investment prospects as your 'exit strategy' is limited.<br/><br/>Understanding means:<br/><ul><br/> <li>The economics of the market such as what do people do for income?</li><br/> <li>Are they secure and stable industries?</li><br/> <li>Is there a lot of wealth in the area?</li><br/> <li>Will the population retire and want to move elsewhere?</li><br/> <li>How many people live per household?</li><br/> <li>Links to public transport such as trains, buses and airport?</li><br/> <li>Local amenities such as educational, entertainment and leisure facilities?</li><br/> <li>Government spending to increase amenity and efficiencies?</li><br/> <li>Surplus of available properties on the market for sale or rent?</li><br/></ul><br/>Without the above examples and many more, how can you be sure the property investment will be stable and actually have demand long into the future?<br/><br/>The final goal is to paint a full picture of the macroeconomics, microeconomics and 'intangibles' within the market to truly understand the way the market fundamentals operate.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-78328469897985107902013-11-05T06:34:00.000-08:002013-11-29T00:14:58.746-08:00Money Making Real Estate Marketing IdeasReal estate marketing is a lot simpler than most Realtors<br/>make it out to be. Some equate expensive products and<br/>services with quality.<br/><br/>However, effective real estate marketing does not have to be<br/>expensive, complicated, or sophisticated. Sometimes, plain,<br/>simple, direct and to the point makes lasting impressions<br/>that result in increased business opportunities and more<br/>income.<br/><br/>One of the most effective real estate marketing ideas<br/>involves Expired Listings. If you're newly licensed, new to<br/>a community or simply looking for a way to increase your<br/>business you should aggressively pursue them.<br/><br/>Expired Listings are plentiful and always easy to find. All<br/>you have to do is look at your daily MLS updates.<br/><br/>If you make them a staple of your real estate marketing<br/>efforts by pursuing them consistently you should be able<br/>to develop a steady stream of prospects and a solid income<br/>within 3 - 6 months, depending on your local market<br/>conditions.<br/><br/>Still, getting them is easier said than done. However, a<br/>good real estate listing system can help set you apart from<br/>other Realtors in a relatively short period of time.<br/><br/>Visit <a href="http://www.farmingexpiredlistings.com" target="_new" rel="nofollow">http://www.farmingexpiredlistings.com</a> if you need one.<br/><br/>Below are some additional real estate marketing ideas.<br/><br/>1. Bumper stickers. Are you advertising yourself via bumper<br/>stickers, yet? If not you're missing out on a simple, cost<br/>effective marketing strategy.<br/><br/>So, here's the deal. It's very simple. Have some bumper<br/>stickers printed with your web site address and other<br/>business information on it.<br/><br/>Ask your church, sorority, fraternity and/or other groups<br/>you belong to to support you by placing them on their cars.<br/>Many will be happy to help out, especially since it won't<br/>cost them anything to be supportive.<br/><br/>Also, make enough for family, friends and clients who are<br/>happy with your services and willing to share how great they<br/>think you are.<br/><br/>2. T - Shirts &amp; Jackets. Real estate marketing via T -<br/>shirts and jackets is not a new or novel idea, but how many<br/>Realtors do you see advertising via this medium. Did you say<br/>"none?" That's what I thought.<br/><br/>So, have some t-shirts and jackets made with your web site<br/>address and other business information on them. You, your<br/>family and friends can wear them almost anywhere. Market<br/>your business year round for a one time cost. When it's too<br/>cold for t-shirts wear the jacket.<br/><br/>3. Baseball Caps. Here's another great way to get a lot of<br/>free advertising.<br/><br/>Have some baseball caps made with your web site address and<br/>other real estate business information on them. Heck, you<br/>might as well spend a few more bucks and outfit your child's<br/>baseball team with them. It makes for great publicity and is<br/>also a nice thing to do for kids!<br/><br/>Ask the parents for "quid pro quo" by asking them to place<br/>your bumper stickers on their cars.<br/><br/>4. Envelopes, Stationary &amp; Business Cards. These are the<br/>mainstay of any real estate marketing campaign, and a must<br/>for your marketing campaigns.<br/><br/>Make sure your web site address and other business<br/>information is printed on all of your stationary, envelopes<br/>and business cards. Leave a few wherever you go. Give them<br/>out like candy, as they are doing nobody any good in your<br/>pockets.<br/><br/>5. Magnetic Signs. Automobile signs are the "meat and<br/>potatoes" of real estate marketing of most serious agents.<br/>If you don't already have some get some. No,not the generic<br/>ones that your Broker has laying around, but signs with your<br/>name, web site address and other business information on<br/>them.<br/><br/>Place them on your car doors or roof. Take them off and<br/>reattach them in different spots from time to time to avoid<br/>fading your paint job.<br/><br/>6. Flyers. Print flyers with your web site address and other<br/>business information on them. Keep some with you at all<br/>times and hang on bulletin boards or simply lying around to<br/>be picked up. It's a great, inexpensive real estate<br/>marketing idea that reaches a lot of people fast.<br/><br/>Print out a few hundred at a time and pay your kids to place<br/>them on car windshields in grocery store and shopping center<br/>parking lots on Saturday mornings.<br/><br/>7. Articles. Another real estate marketing idea is to write<br/>articles. Writing articles is a great way to demonstrate<br/>your expertise as a real estate professional while plugging<br/>your real estate business. It's also an inexpensive way to<br/>increase your website ranking.<br/><br/>These real estate marketing ideas, anchored by a good real<br/>estate marketing listing system, can help supercharge your<br/>business and help you achieve the success you deserve.<br/><br/>So, the sooner you adopt these strategies the sooner you'll<br/>be able begin reaping the benefits of them.jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-35954966741613593312013-11-05T06:33:00.002-08:002013-11-29T00:14:58.671-08:00Real Estate Marketing in a Luxury Market<div id="article-content"><br/><br/>As the real estate market in the U.S. slowly continues to regain its footing, many agents are looking at this time as a chance to redefine their market. With so many agents abandoning-or at least significantly cutting back-their marketing systems to save money, others are jumping in to take advantage of the marketing void. In other words, they are taking an offensive approach in order to put themselves in prime position when the market starts to upswing.<br/><br/>In most parts of Canada, on the other hand, the market continues to stay hot and agents are looking for the best way to grow their business. They are looking to expand the reach of their marketing and maximize income opportunities. Whether it be in the U.S. or Canada, a number of agents we are talking to believe that now is the time to make the transition into the ultra high-end market.<br/><br/>Traditionally, luxury real estate is one of the hardest market segments to try and break into. Why? There are a few common reasons. It might be the presence of a dominant agent already ensconced in the community or the fact that everyone already has a peer in the real estate business. It may be because the agents themselves don't have the patience to work in a generally slower-paced market (less transactions to go around, tougher competition and slower sales process). It could be that they are simply not prepared for the unique challenges a high-end market poses.<br/><br/>In my experience, it's usually a combination of these reasons that prevents most agents from becoming successful in luxury real estate. There are many things you need to know before you make the quantum leap into the next price range. We've put together a list of five factors that will help you decide if a move to luxury real estate is right for you.<br/><br/><strong>#1. Know What You Are Getting Into</strong><br/><br/>Agents often make a blind leap into luxury real estate because they think that's "where the money is." Of course, it's simple math. If you get the same split, it pays to list homes with higher selling prices. In theory, you can make more money by doing fewer transactions. On one hand, that's true, but if you go into luxury real estate with this mentality, you are probably destined to fail.<br/><br/>Yes, your income per transaction goes up significantly. That's great, but there is often a new set of challenges introduced when working a high-end market: the competitive stakes are much higher, social circles are much more closed, politics are different, and there are many other factors which I will detail throughout this article. In addition, marketing and servicing costs are generally more when dealing with luxury homes and clients. Both buyers and sellers expect more and demand more and the properties themselves need even more attention (marketing, staging, photography, etc.) to appeal to a more sophisticated crowd.<br/><br/>Carol Barkin of Toronto, Ontario has been a successful Sales Representative for 20 years, but it took her some time to build her business in her high-end markets (both in the city and in a lakefront recreational market about an hour outside Toronto). "For me, the biggest challenge was making that first connection," she says. "They already have tight social connections and know how to get what they want, so building relationships is a matter of trust. It's important to relate to clients as a friend and a helpful peer, not just present yourself as a service provider."<br/><br/><strong>#2. Patience, Patience, Patience</strong><br/><br/>It's clear that high-end real estate is a different animal than traditional residential markets. It tends to move much slower. Generally, there are fewer homes on the market at any given time and there are fewer buyers out there with the means to purchase such expensive properties. The stakes are higher for everyone involved. So on average, it takes significantly longer to sell one of these homes. In addition, there is a lot of competition out there for a limited number of properties, so it often requires more patience to break into the market and build a strong client base.<br/><br/>This is truly a case where the end usually justifies the means if you have the right understanding and commitment going in. Though listings are harder to come by and it takes longer for them to sell, the large check at the end of the transaction is worthwhile. But not all agents have the stomach to wait longer in between commission checks. Oftentimes, this is the hurdle that stops them in their tracks.<br/><br/>"In my experience in high-end real estate, six months on the market is nothing. On average, it's more like nine for a listing to sell," says Robin. "Also, if they are not truly motivated to sell, you will waste a lot of time and money on marketing. In some cases, I will adjust my commission rate so that the marketing costs are covered by the seller. It helps to offset the time it takes to sell. You also shouldn't go into luxury real estate without money in the bank. It's a long-term process to build your business and if you are not prepared, it can break you quickly."<br/><br/><strong>#3. Know It. Live It. Keep It Exclusive.</strong><br/><br/>Another reason that some agents struggle to find their footing in an ultra high-end market is that they cannot relate to the clients or communicate effectively. You're dealing with a much savvier and usually more demanding crowd who know what they want and are used to getting what they desire. Now, you don't necessarily have to live in the luxury community you are targeting, but you have to present yourself like you do. The way you dress, your ability to network within their circles, the way you communicate with these sophisticated individuals, the quality of your marketing materials-you have to be able to make a personal connection and develop a strong professional image. If they don't buy into you as a luxury home expert who's tapped into their community, they aren't as likely to do business with you.<br/><br/>Jack Jeffcoat III is an agent who is in the process of transitioning his market focus from high-end golf communities in Central Florida to ultra high-end waterfront properties along Florida's Space Coast. From his marketing presence to his personal presentation to his servicing strategies, everything he does is to support his image as a luxury real estate specialist. He's often bold and unwavering in his approach because he never wants to lose credibility.<br/><br/>Think of it like any high-end product that is in demand because of its scarcity and exclusivity. So as a real estate agent specializing in high-end properties, you, your marketing image, and the service experience itself need to reflect the utmost quality. If you look and act like the best agent around, people will aspire to work with you.<br/><br/>"When I take a listing presentation, I conduct an interview with the seller to make sure they are willing to follow my recommendations," Jack says. "At every opportunity, I want to remind them why they are hiring me. They know I am a luxury real estate expert that only works with an exclusive group of clients. From the beginning, they are instilled with the belief that if they want to have a successful sale, they need to follow my lead. It gives me the upper hand and keeps me positioned as the market specialist."<br/><br/>Also, keep in mind that high-end real estate isn't necessarily going to be the same from region to region. A waterfront community in Florida will have a different set of challenges than a mountain resort community in Colorado or a downtown high-rise in Toronto. In some places, "high-end" may be $400,000 and up. In others, prices could be in the multi-millions. So when it comes to your personal presentation and the way you market yourself, be sure to properly present your niche and look impressive.<br/><br/>"Always look bigger than you are," says Robin Milonakis. "You have to have exceptional marketing materials. They have to make people feel good about hiring you. It feeds their ego knowing they are working with the best."<br/><br/><strong>#4. Image is Everything, Especially in Marketing</strong><br/><br/>When it comes to your marketing materials, quality is key. You can't position yourself as a high-end agent if your materials look unsophisticated. A first-rate personal brochure and dynamic website are absolutely essential. Your personal brochure should take the place of your business card whenever you meet a potential client. It needs to look sharp and feel impressive at the very first glance (exceptional photography, nice glossy paper, sophisticated writing, clean design). It needs to reflect your personality, but also relate to the luxury market you are targeting. In a way, you are a representative of this lifestyle and your marketing should convey that. It shows your unique expertise and highlights the service/knowledge benefits that make you a specialist in this distinctive market.<br/><br/>It's very important that you don't skimp here or it will show. You simply can't fake high-end quality. You must be committed to investing the money to do the marketing right or people will see through it.<br/><br/>Put simply, the brochure and all other marketing materials need to be of the utmost quality. This includes your house advertising. You should at least have a tabloid-size glossy flyer/brochure that you use to promote each property. The staging must be great. The photography must be very professional. Of course, you should keep the property marketing pieces branded clearly with your personal image (logo, colors, fonts, etc.) so you don't lose your own identity.<br/><br/>"My brochure is quality and people associate the piece with its sender," Carol Barkin says. "I send it out prior to meeting someone to warm them up. It gives me more credibilty and shows my knowledge of the market they are concerned about."<br/><br/>The same is especially true when it comes to your website. It needs to reflect the quality of your brochure and other print materials. It needs to look sharp and feel representative of your luxury market. Two of the agents I spoke with-Jack Jeffcoat and Robin Milonakis-are both actually in the process of revamping their compaigns to better target their high-end clientele. Even though both of them have been highly successful with their current campaigns, they know it's worth the investment to take their marketing to the next level to promote an exclusive luxury niche.<br/><br/>One bold strategy Jack uses is to feature only properties above a certain price on his website. Does he take listings at lower prices? Yes, when the situation calls for it. But his image is that of a luxury real estate expert and his website is one more way to show that. "If one of my high-end prospects goes to my website and sees a bunch of low-priced listings, then it's not really helping my cause," Jack says. "Like a doctor, specialists make more money and earn more credibility, so I want to be known as a high-end listing specialist in every aspect of my marketing."<br/><br/>When it comes to <a href="http://www.hobbsherder.com/marketing_custom_website.asp" target="_new" rel="nofollow">online marketing</a>, you also need to make sure you are very active on your web site. You cannot just put up a site-no matter how nice it looks-and expect it to generate business over the long run. You have to actively post information-links, articles, blogs, calendar events, community information etc.- to make it a resource that people want to return to on a regular basis. Your active engagement on the site will enable you to better communicate with your target market. And of course, it also boosts your SEO (search engine optimization) to help you generate more leads through all the major search engines.<br/><br/><strong>#5. Be Prepared to Back It Up</strong><br/><br/>In addition to making sure your marketing campaign and personal presentation are representative of your market, you must also make sure you are fully in-tune with the market itself. If you don't know everything that's happening around you, you will never be able to establish yourself as a luxury specialist. This is one area where you will not be able to fake your way through a transaction with minimal knowledge or experience. Clients will expect more and demand more from you, so you have to be able to back up your claims as an expert-in terms of both your knowledge and your service experience.<br/><br/>"Expectations from clients are different and, in general, they are more demanding. They want you to be available to provide answers and information," Carol Barkin says when referring to the clients she works with. "In the end, they need to make their own decisions. They are gathering advice and professional recommendations from me so they can come to their own conclusions."<br/><br/>That said, never underestimate the clients' need for up-to-date information. Be proactive in giving them regular updates (at least one call per week) on market activity. Always stay current with everything that is happening in the market. Word travels fast in luxury real estate, so make sure you know what's going on-what listings have sold, for how much, how long they were on the market, and so on. If you are not all over the market, your clients will be all over you. How and what you communicate will make them feel better about the experience<br/><br/>"No matter what, I personally call every one of my clients on Monday with a detailed market update," Jack Jeffcoat says. "I make it a point to always know what's going on in the market. If any home sells, I need to be aware of it and discuss it with each client so they know what's happening."<br/><br/>Then, make sure your service experience reflects your marketing image. You have to be able to deliver on your claims by making the client feel special throughout the process. Think of it as the difference between the Ritz-Carlton and the Marriott. It's a completely different experience from the moment you walk through the doors of either hotel, and it's why you pay substantially more to stay at the Ritz. Imagine your real estate service as a luxury experience. That will make you a valuable commodity in the market.<br/><br/><strong>Is the Luxury Market Right for You?</strong><br/><br/>Ultimately, that's for you to decide. You must be prepared for the unique challenges and tough competition found in the world of high-end real estate. You have to make sure you are patient enough to handle a slow-moving market. You need to be willing to invest the time and money it takes to not only brand yourself as a luxury specialist, but to back it up with higher standards of service and expertise. If you are ready for what the high-end market has in store, it can be a very lucrative place to do business over the long-run. And whether you are in a slow market or a hot market, right now may be the time to take the big leap!<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-72140536325963043452013-11-05T06:33:00.001-08:002013-11-29T00:14:58.729-08:00Indian Real Estate Market: Bubble or a Bit Trouble?<div id="article-content"><br/><br/>A fear of bubble comes in the mind of everyone who is looking to buy or invest in real estate now a day. But without looking at facts one should not come up with any conclusion that speculates real estate bubble in India.<br/><br/>Indian real estate industry is growing with a CAGR of more than 30% on the back of robust economic performance of the country. After a little downturn in 2008-09, it has revived rapidly and shown tremendous growth. The market value of under construction project has increased from $70 bn at end-2006 to $102 bn by end-June 2010, which is equal to 8.2 per cent of India's nominal GDP for 2009. Besides the Govt. initiatives- liberalization of foreign direct investment norms in real estate in 2005, introduction of the SEZ Act, and allowing private equity funds into real estate, key factors contributed to this tremendous growth were 'lower price' which has attracted buyers and investors not only from India but NRIs &amp; Foreign funds have also deployed money in to Indian market. In addition to that, aggressively launching of new projects by builders had further improved this positive sentiment which paved the way for rapid growth in market last year.<br/><br/>Now question is whether any Bubble is forming in Indian real estate market? Let's look at the recent housing bubble in USA, Europe and middle-east. Beside economic factors, key contributing factors in those bubbles were rapid rise in price beyond affordability, home ownership mania, belief that real estate is good investment and feel good factor among which rapid price hike is a key cause of any real estate bubble.<br/><br/>Comparing it with Indian scenario, all those factors are working in major cities of India specifically Tier-I cities. Prices has skyrocketed and crossed earlier pick of 2007 in the cities like Delhi, Mumbai, Bangaluru, Chennai, Kolkata, Hyderabad, Gurgoan, Chandigarh &amp; Pune. Even in some cities like Mumbai, Delhi, Gurgoan and Noida prices have gone by 25-30% higher than the pick of the market in 2007. However during economic downturn in 2008-09, prices fell by 20-25% in these cities. Other factor is home ownership mania and belief that real estate is good investment. Need based buyers and investors were attracted by lower prices in the end of 2009 and started pouring money in real estate market. Tier-I cities Mumbai, Delhi-NCR, Bangaluru, Chennai, Pune, Hyderabad, Kolkata has shown maximum investment in real estate projects. Developers have taken the advantage of this improved sentiment and started launching new projects. This has further boosted confidence among those buyers and investors who had missed opportunity to buy or invest earlier which has further increased price unrealistically fast. And at last feel good factor which is also working since last few months. The key factor of any bubble market, whether we are talking about the stock market or the real estate market is known as 'feel good factor', where everyone feels good. For the last one year the Indian real estate market has risen dramatically and if you bought any property, you more than likely made money. This positive return for so many investors fueled the market higher as more people saw this and decided to invest in real estate before they 'missed out'. This feel good factor is at the heart of any bubble and it has happened numerous times in the past including during the stock market crash of 2008, the Japanese real estate bubble of the 1980's, and even Irish property market in 2000. The feel good factor had completely taken over the property market until recently and this can be a key contributing factor for bubble in Indian property market. Even after flow of negative news on real estate market correction and/or bubble, people are still highly positive on real estate growth in India.<br/><br/>Looking at above factors, there is possibility of bubble formation in few cities in India but it can harm buyers and investors only if it bursts. Generally bubble form with artificial internal pressure and can stay for long time if not acted by external force. Similarly, in case of real estate market, bubble can burst if demand and price start falling suddenly and drastically. Few findings of recent research by IKON Marketing Consultants throw more light on this. According to that majority of investors from Delhi, Mumbai, Bangaluru, Chennai, Kolkata, Hyderabad, Gurgoan, Chandigarh &amp; Pune are now not willing to invest at this level of price as not seen any rise recently. Majority of them are about to exit and book profit on their earlier investment. Other factor is demand supply gap. In city like Mumbai were around 6500 apartment with 45 million square feet space is under construction but majority of developers are worried on lack of 100% booking. Same situation is with Delhi and other major towns of India which has demonstrated higher than expected enthusiasm. Though developers giving positive outlook of market while interviewing them but their confidence level is very low which is giving negative signals of falling demand in nearest future. Third important factor is expected outflow of foreign fund. India, as an attractive investment destination a huge fund has been deployed in Indian property market by foreign institutes and NRIs. But now property market in US, Middle east and Europe has been stabilized and started growing gradually which is attracting foreign funds due to lower prices. A huge fund is expected to withdraw from India as foreign investors see greater opportunities in those countries. All these factors may act as external pressure which may lead to bubble burst.<br/><br/>Considering above facts, IKON Marketing Consultants predict that there is a possibilities of real estate bubble in Tier-I cities like Delhi, Mumbai, Bangaluru, Chennai, Kolkata, Hyderabad, Gurgoan, Chandigarh &amp; Pune. However, IKON does not see much trouble in overall market as Tier-II and Tier-III cities are growing gradually and are the backbone of Indian real estate industry. According to IKON's research, Indian real estate industry may see some down turn in 2011. It may start from 1st quarter of 2011 and last up to 3rd quarter of 2012. However it will be not too intense as it was during recession period. It is expected that price may slash by 10-15% during this phase of correction but under certain situation it may last up to end of 2013 with price correction of 30% specifically in Tier-I cities.<br/><br/>By its nature, a bubble is a short-term phenomenon while Indian property market has shown continuous growth, apart from periodic adjustments, in the last few years. One should not forget that there are more than 400 million Indians waiting to hit the middle class group which will require more than 75 lacs housing units by 2013. Whether bubble burst or see a bit trouble in short-term, growth story will remain intact for Indian real estate industry. However affordability is the most important factor when it comes to housing prices and middle class housing is much levels of affordability in most of the major cities in India. People, who compare India with developed European cities, forget the huge difference in affordability in both areas. Of course there is a huge demand for housing but they can only buy what they can afford.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-70498140975324806392013-11-05T06:33:00.000-08:002013-11-29T00:14:58.724-08:00Investment Real Estate Marketing Plan - Putting Details Into ActionMarketing is one of the most important things a real estate investor can do to grow his business. It is also one of the areas that is easiest to make multiple mistakes. From failing to properly plan, failure to track your results and even worse, failure to control spending; marketing is fraught perils that beginning investors and long time investors alike must be aware and prepared to avoid.<br/><br/>There are 3 main areas of marketing to concentrate on when seeking to grow sales and revenues. The first is education, the second is planning and the third is tracking for adjustments and success. All three are important for investors to watch as they seek to grow sales and revenues and more importantly, build a business model that is sustainable through any real estate cycle.<br/><br/>EDUCATION<br/><br/>Educating yourself as a real estate investor and marketer is absolutely paramount if you are going to have success and grow your business. There is simply no excuse for not understanding the basics of each as they both are extremely important for the longevity and ability to stay relevant and profitable. Here a few examples of places to become educated on good marketing techniques for real estate investors.<br/><br/>1. Local Library - There may not be a better place to become educated on real estate marketing than the local library. Break the topic down into two subjects and you can have the basics down inside of a week. Under the real estate section there are multiple titles that explain the basics of real estate investing from beginner levels to expert levels. In addition, many of these books will give a basic outline of some simple marketing techniques and tools to get you started. When you combine that knowledge with a good Marketing 101 book from the library, you can quickly pick up the basic outline of why marketing must be done and how properly set up a marketing plan. The best part about an education from the library is the cost - practically free!<br/><br/>2. Real Estate Investment Clubs - Often times, these clubs are referred to in the industry as REIA's. Associations of local real estate investors who come together several times a month to discuss topics relevant to real estate investing. These are great sources for so many things related to real estate investing, including marketing ideas and plans. By attending and immersing yourself into these groups, it is easy to develop friendships, partnerships and even mentors who can answer questions and provide guidance. By paying attention to what the top performers are doing in the field and how they are marketing their businesses, you can pick up ideas and integrate those ideas into your marketing plan. It is called modeling and it is one of the best ways to educate yourself on what is working in a particular real estate market. The biggest upside to becoming educated at a REIA is that you are surrounding yourself with the type of people that are going to be vital to your future success. The costs are usually very affordable and you can often avoid mistakes made by other investors before you.<br/><br/>3. Go it Alone - There probably does not need to be a tremendous amount of discussion under this heading. It speaks for itself and generally goes against all advice I could ever give any business person, especially a real estate investor. As far as education is concerned, it is an approach that many investors choose to take and often at a tremendous cost. Going it alone means deciding to jump into the deep end of the pool with both feet and learning as you go. Trial and error can be good and can sometimes lead to good results, but often after many hours and many ups and downs. Strictly looking at costs, many investors have experienced huge losses in the areas of marketing to learn what works in their particular market and often are a little behind the actual trends due to not properly learning to track and adjust.<br/><br/>My suggestion when it comes to education to use all the resources available including those that come with little to no costs. When you are becoming educated on how to set up a proper marketing plan complete with tracking and adjusting, then I would make sure I was a part of a local real estate investors association so that I am always up to date with the latest marketing techniques.<br/><br/>PLANNING<br/><br/>When I talk about planning and marketing, I mean to process of laying out the actual strategies you are going to use to market your business, the time frame you are going to use those strategies, the way you are going to track those results and the possible adjustments you are going to make as your results come in on your plan. One of the biggest mistakes that we see today in the real estate marketing world is not a complete failure to plan, but a failure to lay the full plan out from beginning to end. That being said, here are a few tips to properly develop a plan.<br/><br/>1. Know what you are currently doing and what results you are currently achieving. Even if the answer is that you are doing nothing, you can not work on where you are going if you do not know where you currently are starting from. You should be able to pinpoint today any marketing you are doing and the cost of that marketing as well as any results you are seeing.<br/><br/>2. Know what results you are looking for before you begin. So once you know where you are starting from, the next question is were are you going? Lay out concrete results you want to achieve and be specific. One of the glaring mistakes in this area is not being specific enough. You cannot track abstract goals. Your goals must be specific and detailed so that you can verify if you are achieving them. An example would be a specific number of new leads you want to bring in from each marketing source.<br/><br/>3. Give yourself set time frames to test your marketing. This is definitely the second biggest problem for real estate marketers and most marketers in general. Marketing plans must be given time to take shape and develop. Most real estate marketers are developing marketing plans which are call to action in nature. They are asking their target audience to take a particular action so that they can capture that action and develop a new lead. An example would be to "Call Today to Sell Your House Quick!". This is a call to action marketing phrase. Often times, there will need to be multiple impressions of that message before the action is followed. Failing to plan a specific amount of time such as 60 days or 90 days, leads to a marketer stopping his action before his target audience responds. If you allow your plan to last longer and stick with all of your marketing pieces and techniques longer, you give yourself a greater chance for success in the long run. It allows for you to see over a longer period of time the results you are getting and that provides a clearer picture of what works and what does not work. DO NOT quit marketing after a couple of weeks simply because your phone is not ringing off the hook. Set your time period on the front end and then let your marketing plan work.<br/><br/>4. Failing to get input from other experts can be costly. If you have access to other real estate investors, I would definitely get their input on your marketing plan before implementation. If they are able to give you advice and direction it can often times help you to figure out the best route to take or at least if you are on track for success. If you have taken your time and all the steps necessary so far to put together a quality plan, then take advice from other experts, but do not be persuaded to change everything. Simply let others take a quick look for feedback, but be prepared to move forward with your plan and any adjustments they think would make a difference.<br/><br/>TRACKING<br/><br/>Tracking means having a way to actually follow and measure all of the marketing activities you are doing and the number of results each gets you. Here are some examples of the things that real estate marketers need to track for every marketing action they take.<br/><br/>1. What are the total number of leads generated per marketing technique tracked daily, weekly and monthly.<br/>2. How many of those leads turned into qualified prospects daily, weekly and monthly. (qualified prospect means you were willing to invest more time to develop the lead)<br/>3. The number of offers made to purchase property daily, weekly and monthly.<br/>4. The ratios of offers made to where the original lead came from.<br/><br/>I am going to insert a quick note here to make sure everyone understands exactly how to track. It is not enough to simply know how many calls you are getting or how many leads are generated or how many offers or deals are being done. When you actually purchase an investment property, you MUST know where that lead came from at the very beginning. Tracking ratios is extremely important to this. It is important to be able to track and measure not only the leads but the quality of those leads. You can have one lead generator that gives you a majority of your leads and another that gives you a majority of your transactions. It should be obvious that you would want to spend more time and resources with the marketing technique giving your more transactions unless you are in the business to simply feel busy and not necessarily to earn a living!<br/><br/>5. What is the cost per lead generated, per marketing technique daily, weekly and monthly.<br/><br/>6. What is the average income generated from each transaction generated by each marketing technique daily, weekly and monthly.<br/><br/>When you are able to track your business in this way, it makes it much easier to make adjustments as you go and it definitely gives a clearer picture of how well you are spending marketing dollars. Often times, as legendary basketball coach John Wooden would say "we mistake activity for productivity" The entire reason for developing and implementing a proper marketing plan is so that we can determine what works, what does not work and what changes we need to make so that we are spending the fewest dollars possible for the greatest impact and result. If we fail to implement any part of this type of marketing plan, then whatever success we achieve cannot be measured against any activities and therefore cannot be duplicated.jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0tag:blogger.com,1999:blog-7143165921187200241.post-88178262144582937182013-11-05T06:32:00.000-08:002013-11-29T00:14:58.755-08:00San Diego Real Estate Market Outlook For 2010 - Market Prediction and
Whats in Store For Next Year<div id="article-content"><br/><br/>What a year to be in real estate! I think I am one of the last Realtors left! The last 18 months have seen an exodus of real estate agents from the business, and the ones who remain are truly the ones you want to be working with. This is a professional's market, and now more than ever, you need a great Realtor to help you with your real estate needs. But what is in store for real estate in 2010?<br/><br/>Next year, we can expect somewhat of a roller-coaster ride for real estate, in general. We have a lot of good and a lot of not-so-good on the periphery, so how can you manage yourself and your home and investments as good as possible? Or will 2010 finally be the year that you jump into the real estate market for good? Let's look at the good and the bad, and discuss both relative to each market segment out there (buyers, sellers, investors, etc).<br/><br/>First, the bad:<br/><br/>2010 will feature more of the same from bank foreclosures and short sales. In their most recent statistics, according to NAR about 25% of all transactions in America right now are distressed properties. Obviously things are different here in San Diego, where that number feels like 100%, but really is closer to about 2/3 of all sales, and it changes from area to area throughout the county. Because of a lack of cohesion and cooperation on the part of the banks and also on the part of government regulation, getting anything done with a bank in 2009 was (and is) pretty darn difficult. True, systems are in place and getting further refined, and more people are getting employed to take on the workload at the banks to get used to dealing with so many short sales, however, this has been a work in progress for the past 3 years and will continue to be so for 2010 and beyond.<br/><br/>In fact, there were a record number of Notice of Defaults (NOD's) posted this last month, and with loan modifications becoming less and less apparent (meaning the banks just aren't doing very many at all of these) expect there to be a consistent flow of more and more short sales and foreclosures. Furthermore, there are several ALT-A loans (what people have been calling the next wave of bad loans) where the borrowers of these types of loans will see their loan readjust to an unaffordable amount, causing further increasing pressure on defaults and foreclosures. More than anything, doing a short sale has in my opinion become an acceptable social construction. Doing a short sale is now commonplace and not as stigmatized as is has been for the past few years; the same goes for foreclosure as well. A vast amount people have gotten involved in a bad loan or a bad investment that there is no hesitation anymore in holding on to the home.<br/><br/>The trend now is to stop making payments and live in the property as long as possible then dump the property, and deal with the aftermath accordingly. Perception has shifted and I predict a heavy increase of short sales for 2010. I only hope that the banks are ready for it. Moreover, the IRS has an exemption on the tax you would typically pay on any forgiven debt for your primary residence. This is one of the main reasons folks have decided to do a short sale in the first place (among other benefits). This exemption is set to expire at the end of 2010, and this will be a cause for many homeowners who were just thinking about doing a short sale to get them to take action. You will want to consult a professional to get some real answers when it comes to a short sale, and you can contact me if you need that kind of help today.<br/><br/>Foreclosures as well as short sales will continue to be a big part of the available inventory throughout 2010, and I do not see them going away anytime soon. Expect this trend of massive distress sale (short sale and foreclosure) inventory to last well into 2012 or 2013.<br/><br/>Regarding the luxury real estate market and commercial real estate market; both of whom have struggled in 2009, they will continue to do so in 2010. I feel that the effect from the economic and market downturn will become even more pronounced for both of these market segments well into 2011 and on. For high end homes, perceptions are changing people are beginning to live more within their means. This recession has taught many a lesson on the excesses that had become commonplace over the past decade. Also, due to lending guideline changes, buyers who could normally afford an expensive loan can no longer qualify for it. More than anything, most people in this price point just aren't ready to take the risk, or have lost their money and means to do so. As a result, the lack of sales in high end areas of San Diego reflects these trends. I am seeing that people with money are taking advantage of more lucrative deals at the lesser price points, and everything above a million still has yet to see the bottom. To cap it off, lending at this price point has just begun to turnaround; for most of this year it has been difficult to get financing for high end homes, even with a 50% down payments! Conclusively, I would not recommend entering the real estate market at any price point over $1 Million in 2010, unless you found one of those great deals that everyone is talking about (but very few actually find). Ultimately, I think there is just too much downside and risk here and not enough reward.<br/><br/>For commercial real estate, we have yet to see the bottom as well. For one, the economic downturn has caused many businesses to close up shop, which increases vacancies and decreases the money realized by the commercial property owner. This also causes property values to decline as commercial property is valued based on the income it generates. There will continue to be a lull in this regard for most commercial real estate until the economy begins to rebound and jobs are created in mass. Secondly, many property owners have refinanced their commercial real estate loans in the past few years, and these loans are going to be called due, which is especially problematic for those properties worth less now than what is owed to the bank. As such, we will see more and more commercial property being foreclosed and sold via a short sale (which simply has not been happening anywhere near the levels of residential real estate). I personally haven't seen a significant enough decline in most commercial property values to call a bottom in 2010. This trend will continue for the next few years as commercial real estate tends to lag residential, generally speaking. I believe we are seeing only the beginning of what is to come. That said, I feel there is immense opportunity in this regard. I am beginning to see great income property that was not realistically priced prior, but is now selling at price points where the owner can cash flow with a modest amount down. I would keep my watchful eye on this market segment.<br/><br/>Importantly, the economy itself will also play a major role in both the local and national real estate recovery. We have seen how real estate got us into this mess, and it will also be one of the first industries to get us out. Although we have begun to see many signs of improvement, we aren't out of the woods just yet. The issue at hand now is focused on job creation. Upon economic recovery, the creation of jobs will allow for substantial growth and appreciation in real estate.<br/><br/>The good:<br/><br/>2009 was the year where (most of) the market bottomed out. For any median priced property or lower, we saw the bottom of the market reached in early spring of this year. Since then, we have been experiencing a lack of inventory which has increased demand and caused price stability, and in certain areas, price appreciation. What I can buy in Chula Vista, El Cajon, or North Park today costs more than it did earlier this year. Again, we are seeing that perception shift and the mentality of buying a home has changed. As a result, the buyers are out in droves. Multiple offers are a normalcy and it is challenging for an active buyer because of the competition in the marketplace. Furthermore, interest rates are seriously phenomenal and I wouldn't expect them to be this low for that much longer.<br/><br/>All that money that's being printed and the debt that the US is taking on is going to have a serious impact on inflation. This increase of inflation will indeed increase interest rates (the reason being is that inflation means the dollar is worth less. If the dollar becomes worth less, the interest rate on a home mortgage needs to increase to take into account the loss of value that the dollar has incurred - this is simply cause and effect). I am sure the fed will try to hold this off as long as possible, but if you are in the market to buy a home, why not do it now? Prices are fresh off their bottom and with rates like these, one would look back in the future and say "why the heck did I not do anything when I had the chance!! Now everyone is rich and I am still renting a studio in Claremont!"<br/><br/>To make things even sweeter, the Government extended the first time home buyer credit to mid 2010, and also included a credit for move-up buyers to help stimulate this other important aspect of the market. (For more on this, call me)<br/><br/>On a separate note, people have come up to me on numerous occasions throughout the year talking about a shadow inventory of REO/Foreclosure/Repossessed homes that the banks are holding on to. These people say this because they are going to wait until the banks dump all that inventory on the market with the intention of then buying a property to get a smokin' deal. To those people I will say this: ITS NOT GONNA HAPPEN. Banks are conducting a "controlled asset release". They are slowly going to be releasing their large supply of foreclosed homes on the market little by little over a long span of time. This is a GREAT thing because it preserves value and keeps the prices from dropping anymore. This makes all current homeowners happier and more confident in general. It is absolutely necessary in this market, and it is one of the few things that the banks are doing RIGHT, in my opinion. This strategy is the one reason why you should get comfortable with foreclosures. There are so many of them (and they keep coming) that it will take a long time to absorb and sell off all of these non performing assets. As such, I see foreclosures as a large part of the total amount of transactions continuing for at least the next 18-24 months.<br/><br/>Moreover, earlier I spoke of the ALT-A loans that will be coming due and re-setting. Many people believe that this round of mortgage resets in the next few years are going to be much worse than before. It is important to note that the size and scale of these loans are not as large (or bad) as the sub-prime loans that began the mortgage meltdown mess. Yes, they are a problem, but as many experts in the industry have been saying, the worst is behind us and the issue now is how to pick up the pieces and make this picture whole again.<br/><br/>Lastly, from the beginning of 2008 we saw nearly all real estate development seize in all parts of the country. The population has not stopped growing, but the development of new homes has for the past 2 years been flat-lining. Expect to see the home builders and developers begin to get back on their feet now that prices have begun to hit their support. The fact that there has been no new building is a testament to the overbuilding that had occurred in the years prior to 2008, and since then the remainder has either been sold off on the cheap or absorbed organically. Regardless, new development is going to be needed sooner rather than later to catch up with demand, but this lack of building has also been one of the other reasons for price support in the market generally speaking.<br/><br/>So what to do now?<br/><br/>So for investors, proceed with caution. The best deals are the ones at the bottom part of the market (under $250,000), or the larger commercial developments where the principal investor/developer ran out of money. I won't divulge my best sources in this newsletter, but call me for the most lucrative deal sources and property lists for San Diego.<br/><br/>For Sellers, 2010 will actually be a great time to sell. Inventory is down to a 2 month supply currently in most parts of San Diego, meaning that it is a seller's market. As such, most places are beginning to see an increase in value. Buyers are eager to find and buy good property, and there is a lot of competition out there, so your property will get a lot of action (assuming it is below $700,000) - anything higher is more and more challenging as you increase in purchase price - so if you are one of those homeowners thinking of selling a high priced home - get out now while you still can.<br/><br/>For buyers: 2010 will be a year of ups and downs, but for the most part, there really hasn't been an opportunity like this for quite some time. We are going to see some record months and then some real dead months depending on market swings (heavily tied to the financing of loans). Getting a loan through will continue to be difficult, but not as bad as it has been in 2009. Affordability is at a 30 year high, and the interest rates are at near-historic lows. As more and more people realize the opportunity at hand, more buyers will enter the market which will help to further stabilize the market and increase purchase prices. I predict a low, single digit appreciation for most zip codes across the board for San Diego in 2010. It is a phenomenal time to consider making your first purchase, or selling your home to move up to a bigger home for your growing family. I am actually finishing up a book specifically geared towards first time home buyers which will help guide you throughout each step of the process. My book is going to be available in the 1st quarter of 2010, available on Amazon.com, and will be a great help for anyone looking to buy their first home. For more information on this, call or email me anytime.<br/><br/>All in all, 2010 will be a weird year in real estate. I don't see an overarching trend to work off of because all market segments are correcting at differing timescales and with different intensities. Further, the government and banks are continuing to tinker with processes that attempt to increase efficiencies with short sales, foreclosures, and loan modifications, and the results will be mixed. I am positive there will be some unexpected surprises and anomalies, but the bottom line is this: if you need help in real estate, use a professional and give us a call anytime. We are here to help you realize success.<br/><br/>May you experience health, wealth and joy in 2010. We look forward to hearing from you and happy to help you or any of your friends who need solid professional service, advice or assistance. If you know of someone who can benefit from our level of service, send us their information and we will follow up and take great care of them.<br/><br/></div>jono lonohttps://plus.google.com/117501155736198799597noreply@blogger.com0